From staff reports
BELLEVILLE - Kish Bancorp Inc. has announced, during this past quarter, its total assets increased to $557 million from $555 million as of June 30, 2011, an increase of $2 million.
Total deposits grew by $8 million to $443 million from $435 million, and loans outstanding increased by $3 million to $375 million from $372 million during the same period, according to a press release by the corporation.
"We are pleased to note that we have continued to implement strategies to strengthen the corporation's already healthy capital position," William P. Hayes, chairman, president and CEO of Kish Bancorp Inc., and its principal subsidiary, Kish Bank, said in the release. "Through continued profitability and sustained focus on developing long-term shareholder relationships, we are providing a reliable source of capital that will support future growth opportunities for the corporation."
Net income for the third quarter of 2011 equaled $1.157 million, an increase of $129,000, or 12.6 percent, compared to $1.028 million as of Sept. 30, 2010. For the nine months ending Sept. 30, 2011, net income increased 3.5 percent, or $94,000, to $2.815 million from $2.721 million in 2010, the release states.
Net interest income in the third quarter was $4.293 million, a decrease of $12,000, or 0.3 percent, compared to $4.305 million for the quarter ending Sept. 30, 2010. Net interest income for the first nine months of 2011 was $12.924 million, an increase of $312,000, or 2.5 percent, compared to the first nine months of 2010, according to the release.
Noninterest income increased $883,000, or 61.5 percent, to $2.318 million for the quarter ending Sept. 30, 2011 from $1.435 million in 2010. Noninterest expense was $5.062 million during the third quarter of 2011, an increase of $977,000, or 23.9 percent, over the same period in 2010, the release states.
The corporation's board of directors approved a quarterly dividend in the amount of 81 cents per share payable on Oct. 31, 2011, to shareholders of record as of Oct. 1, 2011, according to the release.
Kish Bancorp Inc. is a diversified financial services corporation headquartered in Belleville. Kish Bank, a subsidiary of Kish Bancorp Inc., operates 13 offices in Mifflin, Huntingdon and Centre counties. The stock ticker symbol for Kish Bancorp Inc. is KISB. For more information visit www.kishbank.com.